Banks and sales and charities
Sunday, January 6th, 2008
Sales all over the place
Perhaps it’s just me, but I find the idea of banks running January sales a bit offensive. I’m not too sure why. I think it’s the naive idea I have that banks offer competitive terms at all times.
HSBC and NatWest are both advertising a ‘sale’ for their services this month. Are we expected to suddenly decide to borrow some money? And if we miss the sale opportunities are the prices reverting to normal?
These nagging thoughts made me look at the HSBC sale offer. Low and behold another one of my pet hates – deal with us and we’ll give money to charity.
The HSBC website and adverts proudly exclaim, “Every time you take us up on one of our Sale or other special offers, we will donate £2 to WWF to support the HSBC Rainforest Preservation Project in Brazil. Each donation will protect a whole acre of rainforest. So, as well as saving money, you’ll be helping to save one of the world’s most important and endangered rainforests.”
You read it right, get a mortgage or loan or pension and HSBC will donate an entire £2. I wonder what that represents as a percentage of the fees they earn on each of the products.
I’ve never liked this type of use of a charity to promote a business, product or service.
